PAV Technical Analysis and Trades

[pavilion103]

I also had a losing trade on both FTSE and DAX in between that.
Price came back down to below where my original entry was. A nice little spring and consolidation.
It wasn't a bad setup. It did push up a little.
It didn't hold and I lost my initial risk ($200 total).

It seemed to me after this that the market wasn't behaving as I expected for a breakup above the 4h resistance.
Then I saw the US charts and it was right at resistance so I decided to short.
Nailed the direction but unfortunately my BE stop took me out.
Originally I had left the stop above the high of the day and had planned to.
But I think I made the right decision moving stop to BE, even if it cost me approx $1,700.
Better in the long run to do the right things than to reinforce bad risk management.
I could have left it, it wouldn't have been terrible but either way I'm content in the end!

 

[pavilion103]

I had previously asked a question about trading, or not trading prior to news. Is something like the news below reason enough to not trade the FTSE open?

 

[pavilion103]

I also have a question about the gaps on smaller timeframes. Is it best to always wait for gaps to get filled regardless of the time frame? Say for example there is a gap on the three minute chat but not on the five minute or 10 minute chat. Is this reason to wait for the gap to be filled?

 

[pavilion103]

I have been a bit busy over the past month so I haven’t posted.

I finally got into trading the DAX.
There definitely are incredible opportunities there…
I got on a trade last week and actually held it until last night.

Getting in at good RR positions on the daily really allows for good profit when you can let it run 3-4 days!

I wasn’t prepared to take any further risk with open profit even though this down move could have a little bit to go.

 

[pavilion103]

Here are some trades on the FTSE from last night that I'm holding into tonight.

 

[pavilion103]

Another two positions taken tonight.
One I've exited for profit.
The other is still running.

 

[pavilion103]

This is how to look for shorts in a down trend.

 

[pavilion103]

This was one on the DAX - Tuesday 30/8/22.
I didn't get this in a good enough place on the hourly chart to let it run any longer, so I took profit after letting it run overnight.

 

[pavilion103]

Key Zones
FTSE 100 - 4 hour chart

 

[pavilion103]

I actually had multiple contracts on the DAX last week LONG.
I was 170 points open profit x 20 = $3,400.
This was prior to Jackson Hole speech.
I anticipated price to push up a little bit further.

I learnt my lesson.
Better to play it safe prior to such an event that can (and did) move the market.
My stop got taken out RAPIDLY, and I was left with only $400 profit from the $3,400.
If I had my time again, I would have closed out of the position prior to the meeting.
Also a good lesson to scale off a position too.
I've learnt from that this week and had a good balance between leaving open profit, as well as locking in profit.

 

[pavilion103]

$1,500 -FTSE (entry 30/8/22)
$750 - DAX (entry 30/8/22)
$750 - FTSE (entry 31/8/22)
= $3,000 locked in since yesterday's open.

$2,000 - FTSE (entry 30/8/22)
$2,000 - FTSE (entry 30/8/22)
$700 - FTSE (entry 31/8/22)
= $4,700 still running since yesterday's open.

I feel that the next couple of days will be very important.
I will report further on these positions...

 

[pavilion103]

I'll start to use points instead of dollars when talking about numbers.
That might be easier for people to follow along with

 

[pavilion103]

I just closed the other position that I opened today.
75 points profit.

 

[tech/a]

Pav

You still trading?

Miss your commentary

 

[qldfrog]

Pav

You still trading?

Miss your commentary

Hi @tech/a , Pav was posting last night so i assume he he still on, well and alive

 

[tech/a]

Ah My mistake I was referring to a past post.

Cheers

 

[pavilion103]

Pav

You still trading?

Miss your commentary

Hey mate.
I hadn’t posted for about a month or so in this thread. There has been some interesting activity over the past two weeks and I’ve been getting a bit more involved again.

 

[tech/a]

Life happens

 

[Roller_1]

This is how to look for shorts in a down trend.

View attachment 146185

Great work Pav. Are you looking for price to pull back to specific levels or are you waiting for the pullback, waiting for price to stall and then looking for a tight entry on the three-minute charts.

 

[pavilion103]

Great work Pav. Are you looking for price to pull back to specific levels or are you waiting for the pullback, waiting for price to stall and then looking for a tight entry on the three-minute charts.

Both.
First I identify key levels.
Then I observe how price reacts at those levels.

Levels are of utmost importance. A good setup at a level that doesn't make sense can lose a lot of money over time.
It doesn't have to be exact, but I want it to be around an area that makes sense!